Trade Report: The Parsec Financial Management Inc. invests in 4,273 by purchasing Time Warner Inc. (TWX) shares

The Parsec Financial Management Inc. invests in 4,273 by purchasing Time Warner Inc. (TWX) shares

Parsec Financial Management Inc. increased its position in shares of Time Warner Inc. (NYSE:TWX) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 277,434 shares of the media conglomerate’s stock after buying an additional 4,273 shares during the period. Time Warner makes up approximately 2.0% of Parsec Financial Management Inc.’s portfolio, making the stock its 9th largest position. Parsec Financial Management Inc.’s holdings in Time Warner were worth $20,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TWX. Motley Fool Wealth Management LLC increased its position in Time Warner by 9.4% in the first quarter. Motley Fool Wealth Management LLC now owns 18,896 shares of the media conglomerate’s stock worth $1,371,000 after buying an additional 1,624 shares in the last quarter. Ancora Inverness LLC increased its position in Time Warner by 5.3% in the first quarter. Ancora Inverness LLC now owns 17,645 shares of the media conglomerate’s stock worth $1,280,000 after buying an additional 884 shares in the last quarter. Investec Asset Management LTD increased its position in Time Warner by 3.5% in the first quarter. Investec Asset Management LTD now owns 245,412 shares of the media conglomerate’s stock worth $17,805,000 after buying an additional 8,186 shares in the last quarter. Cannell Peter B & Co Inc increased its position in Time Warner by 2,810.1% in the first quarter. Cannell Peter B & Co Inc now owns 743,525 shares of the media conglomerate’s stock worth $53,943,000 after buying an additional 717,975 shares in the last quarter. Finally, A.R. Schmeidler & Co. Inc. bought a new position in Time Warner during the first quarter worth approximately $210,000. 80.68% of the stock is owned by institutional investors.

Shares of Time Warner Inc. (NYSE:TWX) traded down 0.80% on Friday, reaching $79.02. The company had a trading volume of 2,349,775 shares. Time Warner Inc. has a one year low of $55.53 and a one year high of $81.33. The company has a 50-day moving average price of $78.29 and a 200-day moving average price of $75.90. The firm has a market cap of $61.47 billion, a P/E ratio of 15.72 and a beta of 1.21.

Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.13. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7.12 billion. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. Time Warner’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, analysts expect that Time Warner Inc. will post $5.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.4025 dividend. This represents a $1.61 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, August 29th. Time Warner’s dividend payout ratio is 32.01%.

A number of analysts recently issued reports on the stock. Albert Fried & Company reissued a “buy” rating and set a $90.00 target price on shares of Time Warner in a research report on Wednesday, August 17th. Loop Capital reissued a “buy” rating and set a $96.00 target price on shares of Time Warner in a research report on Wednesday, August 17th. Credit Suisse Group AG reissued a “buy” rating and set a $90.00 target price on shares of Time Warner in a research report on Friday, August 12th. Jefferies Group reissued a “buy” rating on shares of Time Warner in a research report on Thursday, August 25th. Finally, Argus reissued a “buy” rating on shares of Time Warner in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Time Warner presently has an average rating of “Buy” and an average price target of $86.17.

In related news, insider Karen Magee sold 14,240 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total value of $1,138,772.80. Following the sale, the insider now owns 7,461 shares of the company’s stock, valued at approximately $596,656.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul T. Cappuccio sold 56,595 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the sale, the executive vice president now directly owns 157,877 shares in the company, valued at approximately $12,352,296.48. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

About Time Warner

Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.

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